Smart Global (NASDAQ:SGH) issued its earnings results on Thursday, June 21st. The company reported $1.84 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.77 by $0.07, Bloomberg Earnings reports. The business had revenue of $335.50 million for the quarter, compared to analysts’ expectations of $331.47 million. Smart Global had a return on equity of 94.82% and a net margin of 6.99%. The company’s quarterly revenue was up 62.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.62 EPS. Smart Global updated its Q4 guidance to 1.62-1.71 EPS.
Shares of Smart Global opened at $31.87 on Friday, MarketBeat reports. Smart Global has a 1 year low of $14.81 and a 1 year high of $56.69. The company has a current ratio of 1.61, a quick ratio of 1.13 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $707.37 million and a P/E ratio of 6.22.
Several research firms have weighed in on SGH. Zacks Investment Research lowered Smart Global from a “buy” rating to a “hold” rating in a report on Wednesday. ValuEngine lowered Smart Global from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd. BidaskClub cut shares of Smart Global from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Stifel Nicolaus upped their target price on shares of Smart Global from $56.00 to $61.00 and gave the stock a “buy” rating in a research note on Friday, June 22nd. Finally, Needham & Company LLC upped their target price on shares of Smart Global from $46.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, March 23rd. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $51.19.
In other news, VP Jack A. Pacheco sold 7,500 shares of the business’s stock in a transaction dated Monday, April 23rd. The shares were sold at an average price of $40.22, for a total transaction of $301,650.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Lake Sumeru (Offshore) Silver sold 2,000,000 shares of the business’s stock in a transaction dated Tuesday, April 3rd. The stock was sold at an average price of $45.20, for a total transaction of $90,400,000.00. The disclosure for this sale can be found here. Insiders sold 2,103,754 shares of company stock worth $94,738,493 in the last 90 days. Company insiders own 6.90% of the company’s stock.
Smart Global Company Profile
SMART Global Holdings, Inc designs, manufactures, and supplies specialty memory solutions worldwide. The company offers dynamic random access memory (DRAM) components, which are used to manufacture modules and other products; DRAM modules for desktop, notebook, and server applications, as well as for use in smartphones; and specialty DRAM modules for industrial, communications, and networking applications, as well as develops specialized memory module designs based on original equipment manufacturer (OEM) requirements.
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